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OFAC Enforcement Action: BitPay pays $507,375

So, BitPay, which “offers a payment processing solution for merchants to accept digital currency as payment for goods and services”, settled 2,102 apparent violations of multiple programs that were considered non-egregious, but not voluntarily self-disclosed. The total value of the transactions involved was only $128,582.61 (and the actual revenue to […]

Ouch! That hurts!

Mr. Watchlist’s DesigNation is back, after over a month off (there hasn’t been a ton that’s been all that interesting recently, to be honest). But, “A Bit Much?” asks the burning question: why was the BitPay settlement with OFAC (and the BitGo one last year, too, to be honest) so […]

What’s in Capital One’s wallet? $390 million less than there used to be…

FinCEN Announces $390,000,000 Enforcement Action Against Capital One, National Association for Violations of the Bank Secrecy Act Contact Office of Strategic Communications, 703-905-3770 Immediate Release January 15, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced that Capital One, National Association (Capital One) has been assessed a $390,000,000 civil money penalty for engaging […]

OFAC Enforcement Disinformation: UBAF pays $8,572,500

That is not a typo… Mr. Watchlist meant to type “disinformation.” Read the details and I think you’ll understand why/… Union de Banques Arabes et Francaises (UBAF) committed 127 apparent non-egregious, voluntarily self-disclosed violations of sanctions imposed on sanctioned Syrian financial institutions between August 2011 and April 2013. These violated […]